Business Context and Reporting Period
This Form 8-K is filed by Mitcham Industries, Inc. (noted as MIND TECHNOLOGY, INC in metadata) with a report date of November 16, 2017. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure regarding auditor changes rather than a financial performance report.
Material Changes
- Accountant Resignation: Hein & Associates LLP ("Hein") resigned as the independent registered public accounting firm effective November 16, 2017, following its combination with Moss Adams LLP.
- New Engagement: Concurrent with the resignation, the Company's audit committee approved the engagement of Moss Adams LLP as the new independent registered public accounting firm.
- Audit History: Audit reports for fiscal years ended January 31, 2017, and 2016 contained no adverse opinions, disclaimers, or qualifications.
Outlook, Risks, and Management Commentary
Disagreements and Reportable Events: The Company confirmed there were no disagreements with Hein regarding accounting principles, practices, financial statement disclosures, or auditing scope during the two most recent fiscal years or the subsequent interim period. Additionally, no reportable events occurred within the meaning of Item 304(a)(1)(v) of Regulation S-K.
Consultations: The Company did not consult with Moss Adams on accounting principles or audit opinions prior to engagement, nor did Moss Adams provide advice on matters that were subjects of disagreement or reportable events.
Investor Verification Checklist
- Verify the transition timeline between Hein & Associates LLP and Moss Adams LLP.
- Review the letter from Hein & Associates LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the resignation.
- Confirm that no undisclosed disagreements or reportable events exist in the interim period following the last audited fiscal year.